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Summary of Unaudited Quarterly Operating Results

12 Months Ended

Dec. 31, 2023

Summary of Unaudited Quarterly Operating Results

Summary of Unaudited Quarterly Operating Results

Note 25: Summary of Unaudited Quarterly Operating Results

Following is a summary of unaudited quarterly operating results for the years 2023, 2022 and 2021:


					2023
		Three Months Ended
		March 31			June 30			September 30			December 31

		(In Thousands, Except Per Share Data)

Interest income		$	71,463		$	73,618		$	75,272		$	76,482
Interest expense			18,271			25,480			28,534			31,335
Provision for credit losses on loans			1,500			—			—			750
Provision (credit) for unfunded commitments			(826)			(1,619)			(1,195)			(1,689)
Net realized gain (loss) on available-for-sale securities			—			—			—			—
Non-interest income			7,889			7,769			7,852			6,563
Non-interest expense			34,463			34,718			35,557			36,285
Provision for income taxes			5,488			4,488			4,349			3,219
Net income available to common shareholders			20,456			18,320			15,879			13,145
Earnings per common share – diluted			1.67			1.52			1.33			1.11


					2022
		Three Months Ended
		March 31			June 30			September 30			December 31

		(In Thousands, Except Per Share Data)

Interest income		$	46,673		$	52,698		$	59,657		$	67,949
Interest expense			3,407			3,867			6,759			13,330
Provision for credit losses on loans			—			—			2,000			1,000
Provision (credit) for unfunded commitments			(193)			2,223			1,315			(159)
Net realized gain (loss) on available-for-sale securities			7			—			31			(168)
Non-interest income			9,176			9,319			7,984			7,661
Non-interest expense			31,268			33,004			34,758			34,336
Provision for income taxes			4,380			4,699			4,676			4,499
Net income available to common shareholders			16,987			18,224			18,133			22,604
Earnings per common share – diluted			1.30			1.44			1.46			1.84


					2021
		Three Months Ended
		March 31			June 30			September 30			December 31

		(In Thousands, Except Per Share Data)

Interest income		$	50,633		$	50,452		$	49,640		$	47,948
Interest expense			6,544			5,768			4,717			3,723
Provision (credit) for credit losses on loans			300			(1,000)			(3,000)			(3,000)
Provision (credit) for unfunded commitments			—			—			—			—
Net realized gain (loss) on available-for-sale securities			(674)			(307)			643			1,277
Non-interest income			9,736			9,585			9,798			9,198
Non-interest expense			30,321			30,191			31,339			35,784
Provision for income taxes			5,010			5,271			5,375			4,081
Net income available to common shareholders			18,868			20,114			20,364			15,281
Earnings per common share – diluted			1.36			1.46			1.49			1.14